Week in review
Tuesday
A crew from ABC’s “Good Morning America” is slated to broadcast a reproduction of the Christmas lighting ceremony, including a miniature fireworks show, live Wednesday starting at 4 a.m. Coordinated by Hagadone Corp. and KXLY, the two-hour event around the Coeur d’Alene Resort should bring positive nationwide exposure to the area, proponents said.
“Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business. In a note to investors Monday, Lehman Brothers analyst Brian Johnson said his analysis of auto loan-backed securities sold by Ford Motor Credit Co. and GMAC Financial Services showed some higher delinquency rates for October and September compared with recent years.
Wednesday
Shoppers should be mindful this Christmas that lead-based paints, along with toxic chemicals used in plastics, can be found in many toys and trinkets. Consumer groups warn that independent tests continue to show dozens of playthings pose dangers to children.
“Advertising at U.S. newspapers fell 7.4 percent in the third quarter, an industry group reported Tuesday, as another sharp plunge in classified ad revenues more than outweighed gains in online advertising. Revenues from print advertising fell 9 percent to $10.1 billion in the three months ending in September, the Newspaper Association of America reported, led by a 17 percent tumble in classified advertising.
“The Federal Reserve reported Tuesday that it expects slower economic growth and a slight bump up in unemployment next year due to the housing slump and a credit crunch. The board also said, however, that it thinks inflation will remain moderate. The fresh assessment of the country’s future economic performance was issued by the Fed in the first of its quarterly reports to the nation.
Thursday
“The price of oil seems destined to burst through the $100 mark sometime soon, leaving higher pump prices and rising heating fuel costs in its wake. Energy futures balked on that drive Wednesday, but analysts said it was a pause, not a retreat for energy futures that reached as high as $99.29 in electronic trading overnight.
“Spokane Valley real estate magnate Alvin J. Wolff Sr. died Sunday. He was 89 and leaves a legacy of business achievement and community involvement. His real estate business, the Wolff Company, grew from brokering and managing single residential properties into handling commercial buildings and apartments. Today, under the guidance of his son Alvin (“Fritz”) Wolff Jr. , the company has diversified with a portfolio of holdings worth $3 billion.